| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 06, 2010 |
referred to investigations and government operations |
| Apr 09, 2009 |
referred to investigations and government operations |
Senate Bill S4106
2009-2010 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
Actions
2009-S4106 (ACTIVE) - Details
2009-S4106 (ACTIVE) - Summary
Establishes a five percent investment tax credit against the franchise tax imposed upon corporations for a portion of training or retraining expenses incurred by them in an eligible business facility, pursuant to rules and regulation of the department of taxation and finance promulgated in consultation with the department of labor.
2009-S4106 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4106
TITLE OF BILL :
An act to amend the tax law, in relation to providing for a tax credit
for certain training or retraining expenses incurred by a taxpayer
subject to the provisions of article 9-A of such law
PURPOSE OF THE BILL :
Provides for a corporate franchise tax credit for employee training
expenses in an eligible business facility.
SUMMARY OF SPECIFIC PROVISIONS :
§ 1- Amends subdivision 12 of § 210 of the tax law by adding a new
paragraph (n) which allows for a tax credit in the amount equal to 5%
of the expenditures paid or incurred by a taxpayer for training or
retraining of employees, pursuant to Department of Labor review.
§ 2- Effective date.
JUSTIFICATION :
More so than ever, reports and newspaper articles are documenting the
shortages in today's job market of skilled employees. A combination
of high automation levels in the workplace and low employee language
skills have resulted in a major schism between job demand and supply.
Some corporations are claiming that fewer than 30% of employment
candidates met entry level skill and ability requirements. This
2009-S4106 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4106
2009-2010 Regular Sessions
I N S E N A T E
April 9, 2009
___________
Introduced by Sen. AUBERTINE -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations
AN ACT to amend the tax law, in relation to providing for a tax credit
for certain training or retraining expenses incurred by a taxpayer
subject to the provisions of article 9-A of such law
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 12 of section 210 of the tax law is amended by
adding a new paragraph (n) to read as follows:
(N) IN ADDITION TO THE CREDIT ALLOWED BY PARAGRAPH (A) OF THIS SUBDI-
VISION, FOR TAXABLE YEARS BEGINNING AFTER DECEMBER THIRTY-FIRST, TWO
THOUSAND NINE THERE SHALL BE ALLOWED A CREDIT IN AN AMOUNT EQUAL TO FIVE
PERCENT OF THE EXPENDITURES PAID OR INCURRED BY A TAXPAYER FOR TRAINING
OR RETRAINING OF EMPLOYEES IF SUCH TRAINING WAS GIVEN BY A TAXPAYER IN
AN ELIGIBLE BUSINESS FACILITY. THE COMMISSIONER, IN CONSULTATION WITH
THE DEPARTMENT OF LABOR, SHALL PROMULGATE RULES AND REGULATIONS TO
DETERMINE AND IDENTIFY ELIGIBLE TRAINING PROGRAMS PURSUANT TO THIS PARA-
GRAPH.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03947-01-9
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